Nikon is a good example of better models not guaranteeing better IQ. Because their top of the line is getting a little on the old side, it is not the greatest at high ISO compared to their newer cheaper models. Here is a quote from Steve's on the D2X($4,000+):
"While its exposure and auto focus system complemented each other nicely, producing consistently sharp, well-exposed images, image noise was present in shadow areas at ISO sensitivities as low as 200, and growing to a quite noticeable level at ISO 800. The D2X includes a High ISO Noise Reduction feature that can be activated in the camera's menu system; this in-camera noise processing does diminish the amount of noise, but at the expense of image detail. At ISO settings of HI-1 (ISO 1600) and HI-2 (ISO 3200), shadow noise is very high even with the use of High ISO Noise Reduction."
Now here is a quote from his review of the D40 ($500):
"I was very impressed with the lack of image noise in our test shots, even ISO 1600 looks relatively good in my opinion."
Also, the D50 and D70 have the exact same sensor, but the cheaper D50 is known to have less noise.
I am not saying that the cheaper models are better, but they are better at ISO noise it seems. You are really paying for the features when you go to higher level gear. Those features sometimes mean the difference in getting the shot or not.
Kevin